VENUE SOURCING INNOVATION

Savings from creative negotiation strategy

A creative negotiation strategy formed the foundation for this project and ultimately helped us to increase contract flexibility, add concessions and save the client US$78,000.

The objectives

A large online retailer planned to send delegates to a major technology conference and sought accommodation that adjoined the convention center. The company was unhappy with the service agreement initially offered by the target property. It, therefore, sought an agency that could secure better rates as well as negotiate flexible, penalty-free policies.

The solution

The team infused creativity into its negotiating strategy to get the client the best rates. It benchmarked the hotel’s offer against comparable properties and leveraged this information in negotiations. CWT Meetings & Events also focused on additional savings and adding value via complimentary sleeping rooms, suite upgrades, meeting rooms and internet access.

The company’s historical data helped more accurately estimate the size of the room block mitigating the risk of attrition and cancellation.

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